Ranked #1 Loan Center in Draper, UT

Build Your Dream Home with Confidence: Altius Mortgage Construction Loans

At Altius Mortgage, we understand the excitement and challenges that come with building your dream home. Our construction loan services are designed to help you navigate the financial aspects of this significant undertaking, ensuring a smooth and stress-free experience.

What is a Construction Loan?

A construction loan is a short-term financing option specifically tailored for funding the construction of a new home. Unlike traditional mortgages, which are disbursed in a lump sum, construction loans are released in phases, corresponding to the completion of specific construction milestones. This approach ensures that funds are used wisely and allocated as needed throughout the building process.

Benefits of a Construction Loan with Altius Mortgage:

• Streamlined financing: Our experienced loan officers will guide you through the entire process, from application to loan closing and disbursement.
• Phased funding: Receive funds only as needed, based on the progress of construction, preventing unnecessary upfront costs.
• Competitive rates and flexible terms: We offer competitive interest rates and flexible loan terms to fit your specific budget and project timeline.
• Experienced team: Our team has extensive experience working with builders and contractors, ensuring smooth communication and efficient loan disbursement.

How Does it Work?

1. Pre-approval: Get pre-approved for a construction loan to determine your borrowing power and budget for the project.
2. Draw schedule: Work with your builder to create a detailed draw schedule outlining the construction milestones and corresponding loan disbursement amounts.
3. Progress inspections: Independent inspectors verify the completion of each milestone before the next tranche of funds is released.
4. Conversion to permanent financing: Once construction is complete, your construction loan seamlessly converts to a traditional mortgage, providing long-term financing for your new home.

Altius Mortgage is Your Trusted Partner:

Building your dream home is a significant investment, and we understand the importance of having a reliable and experienced partner by your side. At Altius Mortgage, we are committed to providing you with the resources, support, and expertise you need to make informed financial decisions and navigate the construction loan process with confidence.

Contact us today to discuss your construction loan options and get started on building your dream home!